Petronas Q2 net profit up 53% at RM18bil

By DANIEL KHOO
danielkhoo@thestar.com.my

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted a 53.8% jump in net profit to RM18.3bil for its second quarter ended Sept 30, 2011 from RM11.9bil a year ago due to higher prices across its product range. However, the impact of the better prices was partially offset by the stronger ringgit against the US dollar.

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PChem may have broken its uptrend line at RM7.10. | i3investor.com

PChem may have broken its uptrend line at RM7.10.

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#Flash* Petronas FY net profit up 50% to US$17.46b, plans RM300b capex | i3investor.com

#Flash* Petronas FY net profit up 50% to US$17.46b, plans RM300b capex | i3investor.com

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Petronas Chem rises on CIMB estimates

Petronas Chemicals Group Bhd climbed to a record in Kuala Lumpur trading after CIMB Investment Bank Bhd raised its share estimate on its “superior” growth prospects, bolstered by higher margins.

The stock climbed 1.6 per cent to RM6.94 at 3:41 p.m. The stock has risen 26 per cent this quarter, set to be the second-biggest gainer on the benchmark stock index. The share estimate was raised to RM10 from RM7.25, Terence Wong, an analyst at CIMB, wrote in a report today. -- Bloomberg

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Petronas Q3 profit up on unit IPOs

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted a RM10.1bil jump in net profit for its third quarter to RM23.7bil owing largely to proceeds from the listing of two subsidiaries on Bursa Malaysia but indicated high annual dividends to the Government will need to be cut in the future.

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Oil reserves found off Sarawak’s coast to boost Govt coffers

By SHARIDAN M. ALI
sharidan@thestar.com.my

PETALING JAYA: Petroliam Nasional Bhd (Petronas)’s persistency in exploring for the precious commodity within Malaysia has struck gold with major oil and gas reserves discovered off the coast of Sarawak.
Some 100 million barrels of oil and 2.8 trillion standard cubic feet (tscf) of natural gas were discovered from two exploration blocks there.

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